We’ve bought another 72 hours

I have to say that Americans are making history – America is pulling a Howard Beale and shouting, “We’re tired as hell and we’re not going to take it anymore!” Hundreds of thousands of Americans woke up yesterday (finally)  and decided to take action and revolt against the bill that everyone said would pass. Millions of people jammed the lines with their phone calls and emails just to give their two cents, their feelings on this entire bailout bs. The politicians didn’t see it coming. We’ve finally found our moxie….we’re coming together as a community. 

It was a rare historic moment. Not only is the president not being backed by his party which says a lot,  but the bill supported by both parties went down in defeat. The people are shouting loud and finally being heard.. we are having an impact and this is huge.  

Forty percent of Democrats and two-thirds of Republicans voted against the bill: a 228 vote to 205. 

Why do you think the parties are banning together? Gee do you think the repugs are just a tad scared they are going lose their seats in the house? A bit nervous that up to 30 seats could be lost and their big plans would go down the toilet?  Just maybe…if they act like they are on the side of the people and not on the side of our president, just maybe they might save their asses and their agenda’s.  These are the same repugs who  backed the war, put our country into debt, and voted out any and all regulations that would make the Wall Streeters accountable for this economic mess that were in. Yep…these are the same repugs who are now standing up for main street. Or….do you think that Bob is correct when he commented yesterday that the anonzs of the world own the repugs – Anonz stated he was not for the bailout. Hmmm…

And the Dems?  Well from what I read, some of them who voted for the bailout were in fear just like many of the people. So…did their fears showed up yesterday when the market dropped in the Dow, the largest drop in history of the New York stock exchange?  The news media screamed it was disastrous – 1.2 trillion dollars lost in the stock market. People will lose jobs, say goodbye to retirement funds  and stock-based pensions. 

But ya know what? When you stand up for what you believe in some people are going to get hurt financially, some people are going to lose their jobs. Nothing really worth fighting for comes easy or for free.  Freedom and the right to fight for our freedoms has a price. We have stood up to our government, albeit it has been a really long time since we have shouted like this, but we have finally woken up from our sleep. 

And as far as Wall Street is concerned…nobody really lost anything.  Stocks go up. Stocks go down. And throw in my fav motto this year…’And this too shall pass.’  We all know that the anonzs of the world are always going to make money.  The rich will buy low, hold, then sell off and buy low again. Bailout or no bailout, they will be reaping the profits and continuing to fleece. It just is what it is. 

So why do you think the bailout didn’t fly? 

This is what I found out. The bill didn’t favor the average American – check it out:

1. The bailout bill had NO enforcement provisions for the so-called oversight group that was going to monitor Wall Street’s spending of the $700 billion;

2. It had NO penalties, fines or imprisonment for any executive who might steal any of the people’s money;

3. It did NOTHING to force banks and lenders to rewrite people’s mortgages to avoid foreclosures — this bill would not have stopped ONE foreclosure!;

(Remember when I said yesterday that they would ‘try’?) 

4. It had NO teeth anywhere in the entire piece of legislation, using words like “suggested” when referring to the government being paid back for the bailout;

5. Over 200 economists wrote to Congress and said this bill might actually WORSEN the “financial crisis” and cause even MORE of a meltdown.

Lastly, I have to add this video. Rep. Marcy Kaptur stood up and said it all – You have got to watch this. She calls it the latest ‘reality game’ called: ‘Wall Street Bailout”.  She is so right on. 

We’ve bought another 72 hours.  Continue to voice your opinion. The fight isn’t over yet.

Readers:  You know I want to hear your thoughts. To all my international readers…c’mon now, do you still think we’re all that stupid? You have to admit…this is getting good.

Peace out. 

Gratefully your blog host,

michelle ♥

Aka BABE: Your Bad Ass Bitch Editor

For archives dated before January 17, 2008 click on my Blogroll:

or click here: “A Day in the life of…”

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Tuesday Talk

We’ve been talking politico a lot on this blog, giving it more time than I thought I ever would. Most of it has been in regards to the candidates, and of course we’ve been enlightened in many ways to say the least , but there are other things keeping my mind occupied these days too.  

I’ve talked about my passion for the animals many times. The livelihood of animals is always on the forefront of my mind and although I haven’t been so verbal here lately, I have been busy.  Last weekend I worked the farmers market informing people about Prop 2.  And last night,  I donated a couple of hours, ( and volunteered Doug too: ) making phone calls at the Democratic office downtown confirming voters support of Obama and the democratic party, and informing them on Prop 2.  And lastly, ending the call with the voters confirming that they will vote Yes on Prop 2.  It’s a California thing, but an important one.

So what is Prop 2? Prop 2 is simply a very modest measure to ensure that farm animals are treated humanly by giving them more room to stretch their legs, turn around, lie down, or spread their wings. Simple, and really not much to ask for. Thankfully everyone I spoke to thought the same. It felt good to give my time to something that is important to me.

I don’t have much time this morning to elaborate but I promise it won’t be the last time that I bring this up.  

I just have to add before I sign off, that waking up this morning and reading the comments between anonz and Tom…well I am not sure what to say. Doug and I talked briefly this morning. I don’t know what is worse…getting fucked, not knowing what and how it is happening or how to prevent it….or getting fucked and having a play by play account of it all and still not know how to prevent it.  Ignorance is bliss but I think I’ll choose the latter.  

The image of a game board comes to my mind.  This world is really just a big game board and the name of the game is ‘life’.  The prize, the motivating factor, is money and the overwhelming desire to attain as much of it as one can. There are a few major players, (the bills) and the rest, well the rest, are just insignificant in the big picture of it all.  Sure, they players need to get as many insigs as they can on their team but really they are just pawns to play with and use as they see fit. The one with the most money wins. The funny thing is, is that the game never ends because no amount of money is ever enough. And the game continues…

Readers: As always, feel free to comment. I’m outta here…

Gratefully your blog host,

michelle ♥

Aka BABE: Your Bad Ass Bitch Editor

For archives dated before January 17, 2008 click on my Blogroll:

or click here: “A Day in the life of…”

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What to do with the $700 Billion. Now is the time to speak your mind.

You all know my opinion by now that I think we shouldn’t bailout Wall Street.  Why let the liars and the corrupters get away with it?  What will prevent them from doing it again and again if new laws aren’t implemented and they know a bailout is on the way?  No risk on their part. AND they want the money with no strings attached! I say let the wall fall….and they’ll all come tumbling down. 

What do you think?  Want to express it?  Go to the Congress website and vote.  Do you support the $700 billion mortgage bailout?  Or do you oppose it? Of course I am hoping that my readers will ban together and join me so that maybe, just maybe we’ll have an impact and turn this thing around. Show the Wall Streeters that we have a powerful voice.  It’s really up to you now. Oh…just FYI: If they do get bailed out, WHOEVER becomes president will have that much less in the budget for all of those promises being made. It will not only effect any plans that the elected president has in store for the next 4 years, but it will surely impact us in our pockets.

AH commented on this yesterday, and he said it so well that again I think it is worth a re-post:

This is just a ploy by the republicans to scare the democrats into giving them absolute control of the $700 billion dollar bail out. They will promptly divide it up between the Anonzes of the world and continue ripping the small investor and the American people off.

THERE IS NO CRISIS!

There is a drive to make the American people believe the economy is in dire jeopardy to get them to force the democrats to give the bush administration total control over how the $700 billion will be used. The democrats want to include provisions to give relief to people about to lose their mortgages and to insure that the owners and leaders of these defaulting companies don’t benefit from this bail out.

The republicans need to force the democrats to give them the money without those provisions. They will kill even more companies to force the issue. These are the same companies that fired tens of thousands of American workers and gave their jobs to foreign companies.

THERE IS NO FINANCIAL OR ECONOMIC CRISIS. This is a ploy to burden any new administration with a debt so huge that it will not be able to launch any social health programs or tax relief for the middle class.

The bush administration intends to dole out every penny of the $700 billion before the new administration takes office. They also intend to pile up as much new debt as it can on the incoming new administration as it can. Wait until it becomes knowledge the military commitments the bush administration intends to leave the new administration with.

AH 

Oh and one more thing just in case you aren’t still convinced, I decided to post Anonz’s comment from last night:

On the bail out, the CEOs of these companies will be getting billions of the $700 plus billion bail out in the from [sic] – form of bonuses. The companies are wrangling to get the taxpayer to pay for their gambling while paying their heads huge bonuses for losing the companies money and the jobs of its employees.

Anonz

Okay, so if nothing else…do you want all of these companies getting billions in bonuses while you’re struggling to make your mortgage payment?  Basically they are getting rewarded and laughing all the way to the bank. I don’t think so. 

Don’t know what to say in your letter? I’m enclosing a letter that Doug wrote yesterday. Feel free to use it as is or change as you see fit:

I oppose the proposed bailout plan because it is not only the taxpayers, and especially not all taxpayers, who made the errors in judgement that have made the situation as precarious as it is.  The banks should not have lent money or coerced borrowers to accept loans that they were not able to afford.  It is the obligation and business of the banks to know what they are getting into, just as it is the obligation of the borrower.  It is the lack of oversight and regulation that allowed these fraudulent lending practices to take place.

The banks are able to reduce their bad debts through write downs and move forward with their businesses.  It is the borrowers that will take the brunt of these lending illegalities by being held responsible for actions that many of them were coerced into accepting under the fraudulent and unregulated guidance of the financial institution.  The financial institutions must be held accountable for their product manipulations and failed and fraudulent loan practices.

Readers:  They suggest to keep it short; I’ll add keep it simple too.  The point is to participate and make your voice heard. If you have a sample letter to share, please post it. I would love to read. Thanks! 

Hi ZL:  I forgot to mention yesterday…yes, go ahead and re-post my article for your blog if you want. And in answer to your question of what to say to those hard core repubs stuck on the talking point: ‘well congress and the house have a democratic majority who stand in the way of any good repub regulating process at every turn, in fact Dems always get in the way of anything/all the good things Repubs try to do’. What a lame bitch. Tell ‘em to shut the fuck up and start being accountable for their actions – the democrats have only been in control for two years – All this shit happened way before two years ago. It was the repubs who fired most of the regulators, and even the laws that were there they didn’t even enforce. Remember nothing polices itself. I could go on about this but I would be writing another entire article :) Maybe someone else can chime in on this. 

Hi Doug:  I liked your article about ‘truth’.  And what is it with wikipidia?  I don’t get why people use it as a source when it is really only an opinion; one that anyone can change. It just confirms that the definition of truth is not necessarily based on facts anymore.  As I’ve been saying, someone’s ‘truth’ in this election is going to be based on the last thing they hear before they hit the polls. Yes americans can be that stupid. Sad but true. 

Have a great day everyone.

Gratefully your blog host,

michelle ♥

Aka BABE: Your Bad Ass Bitch Editor

For archives dated before January 17, 2008 click on my Blogroll:

or click here: “A Day in the life of…”

All content on this site are property of Michelle Moquin © copyright 2008

" Politics, god, Life, News, Music, Family, Personal, Travel, Random, Photography, Religion, Aliens, Art, Entertainment, Food, Books, Thoughts, Media, Culture, Love, Sex, Poetry, Prose, Friends, Technology, Humor, Health, Writing, Events, Movies, Sports, Video, Christianity, Atheist, Blogging, History, Work, Education, Business, Fashion, Barack Obama, People, Internet, Relationships, Faith, Photos, Videos, Hillary Clinton, School, Reviews, God, TV, Philosophy, Fun, Science, Environment, Design, The Page, Rants, Pictures, Church, Blog, Nature, Marketing, Television, Democrats, Parenting, Miscellaneous, Current Events, Film, Spirituality, Obama, Musings, Home, Human Rights, Society, Comedy, Me, Random Thoughts, Research, Government, Election 2008, Baseball, Opinion, Recipes, Children, Iraq, Funny, Women, Economics, America, Misc, Commentary, John McCain, Reflections, All, Celebrities, Inspiration, Lifestyle, Theology, Linux, Kids, Games, World, India, Literature, China, Ramblings, Fitness, Money, Review, War, Articles, Economy, Journal, Quotes, NBA, Crime, Anime, Islam, 2008, Stories, Prayer, Diary, Jesus, Buddha, Muslim, Israel, Europe, Links, Marriage, Fiction, American Idol, Software, Leadership, Pop culture, Rants, Video Games, Republicans, Updates, Political, Football, Healing, Blogs, Shopping, USA, Class, Matrix, Course, Work, Web 2.0, My Life, Psychology, Gay, Happiness, Advertising, Field Hockey, Hip-hop, sex, fucking, ass, Soccer, sox"

The Positivity Pledge

We are all aware by now and certainly more recently of how little we are privy to when it comes to our government and their sleazy relationships with the big corps. How what we are told is rarely the truth. And as Tommy Smothers said at the Emmy’s last night. ‘Truth is . . . what you get other people to believe.’ Our government relies on that big time.  

We can’t sit back and be complacent like we have been.  Why are we, the people, not rising up and coming together? Are we so busy stuck behind our computer screens or texting until our fingers are numb, that we have forgotten what it is like to come together as a community and fight for the things that we believe in? I keep having visions of the 60’s when people banned together against the Vietnam war, standing up against our government.  Where is that energy and passion that shouts that we won’t take this anymore?  

Loyal readers:  Its time. If you have not done so already, it’s time to spread the word spread the word about the information that you have learned here. Tell your friends and family.  if you don’t know how to articulate it, print it out or direct them to my blog and ask them to read it. Open up the conversation.

If you are questioning anything you have read, do the research. We have the internet – the biggest library and fastest way to get information. Get involved. Maybe, just maybe, if enough people hear the truth, something will start to percolate and who knows what could happen. There is power in numbers. But we can’t just sit here thinking ,’Oh shit!’, and then head to Starbucks for another latte.

I want to continue to be informed no matter how much I dislike hearing the truth, but knowing the truth is the only way to make informed choices. We will have no one else to blame but ourselves if we do nothing.  However, that being said, I want to be aware of the challenges, but I want to focus on the ideas and solutions, AND keep a positive outlook. So in keeping with just that….

One of my ’sources’ (Thanks Domie!) sent me this the other day and being that it is Monday, the beginning of the week, I decided that it was the perfect day to post.  Why not start it off on a positive note.  It has been intense this past week and maybe we could all use a daily ‘positivity pledge’. This was submitted on the Obama website by a woman in Chicago. Please join in this pledge if you feel so inspired or write one that resonates with you.

The Positivity Pledge (Community Service)

This is an ongoing event. 

We may all have different religious or spiritual beliefs, but what we have in common is the power to create positive change through our thoughts and actions. More importantly, we create our own realities as a direct result of these thoughts and actions. 

This is why I have taken a pledge to spend at least 5 minutes of every single day from now until November to send powerful, positive energy to Barack Obama and his campaign by clearly visualizing our candidate as President of the United States . 

Please join me in taking this pledge (feel free to add your own ideas to the list—and feel free to share your ideas with me) :

♣ I pledge that I will only focus on the positive throughout this entire election.

♣ I pledge that I will not disseminate negative, hurtful, or character-damaging messages of any kind.

♣ I pledge to spend at least five minutes every day thinking positively about all the great things Barack Obama will do as President of the United States.

♣ I pledge that I will rise above the divisive politics that others choose to engage in by not lowering myself to such behavior or thought patterns.

Thank you, Everyone! 

YES WE CAN!!!

***********

Ah…that feels good.  Collective energy, as well as visualization, is a powerful thing.  I like the above. For me, I might have to word it a bit differently but you get the point. However, let it be known that I have a blog and getting out the ‘truth’ is important regardless of whether it is positive or negative.  And really even if the ‘truth’ appears to be a negative thing, in my mind, it should only be viewed as positive if it enlightens us and empowers us to make the decisions that bring about the changes that are needed.  

Hi Adam:  Welcome back! Any chance I can go with you sometime on one of your journeys? If not soon, how about another chat? I enjoyed the last one so much. Speaking of…Earthling Girls…I miss you all too. How goes it? 

Oh and Adam…No, I really do not want to know what our future holds. Besides it is a parallel earth which as I understand occurrences may or may not happen here as they have there. Why create worry and chaos over something that may not happen and if it did, I don’t want it in my conscious or for that matter the collective conscious. Nope…don’t want to create anything we don’t want. Lastly, nor do I want to know where Doug and I are going to live. Now what fun would that be? :) Thanks for offering though. 

Anonz: In regards to your comment: A. The Truth 1: if one has more than $100,000 to deposit in a savings account. He should know to put the balance up to $100,000 in a different bank company so that he could continue to take advantage of the FDIC guarantee. I thought AH implied that when he said, ‘If he has more, then he should have been more careful.’ But yes for the really stupid Americans out there, spelling it out as you did might be best. I appreciate your attention to detail – thanks for the clarifications. 

ZL: Give a big hello back to Lisa! – didn’t know she was out and about. Hope you two are having fun! 

Hi Nattie: Very well said. Welcome to the land of opportunity.

Hello Sophie:  I know your comment was to Joe…but your statement, ‘They call Obama an ungrateful nigger because all this country has given him and his people he would pay us back by trying to be it president.‘ Wha’at?! I’ve never heard of anything so ridiculous.

Jack:  Your comment is laughable.  FYI: Wake up and get real. If you’re calling him an ‘N’, you’re a racist.  And my bet is that is why you are not voting for Obama. 

Susan: Your remark, ‘He can’t help that he’s black.’ (?!) Like its a negative to be black….Like saying, ‘Oh he can’t help that he’s crippled, poor man!’ Ugh!!  No one has control over the color they are that’s why it is crazy to judge one by it. Color doesn’t mean anything. Oh how different the world would be if we were all blind. And, what do you mean the ‘white part of him could come out’? What is that supposed to mean? Like the ‘white part’ is better than the ‘black part’? – Get real here. Yes, bigotry at its best. 

Clark:  You got that right. Our government could care less if the American people were able to own a home, otherwise they would be doing everything they could in order for people to be able to keep the ones they are losing. 

Peace out peeps…have a good Monday.

Gratefully your blog host,

michelle ♥

Aka BABE: Your Bad Ass Bitch Editor

For archives dated before January 17, 2008 click on my Blogroll:

or click here: “A Day in the life of…”

All content on this site are property of Michelle Moquin © copyright 2008

 

" Politics, god, Life, News, Music, Family, Personal, Travel, Random, Photography, Religion, Aliens, Art, Entertainment, Food, Books, Thoughts, Media, Culture, Love, Sex, Poetry, Prose, Friends, Technology, Humor, Health, Writing, Events, Movies, Sports, Video, Christianity, Atheist, Blogging, History, Work, Education, Business, Fashion, Barack Obama, People, Internet, Relationships, Faith, Photos, Videos, Hillary Clinton, School, Reviews, God, TV, Philosophy, Fun, Science, Environment, Design, The Page, Rants, Pictures, Church, Blog, Nature, Marketing, Television, Democrats, Parenting, Miscellaneous, Current Events, Film, Spirituality, Obama, Musings, Home, Human Rights, Society, Comedy, Me, Random Thoughts, Research, Government, Election 2008, Baseball, Opinion, Recipes, Children, Iraq, Funny, Women, Economics, America, Misc, Commentary, John McCain, Reflections, All, Celebrities, Inspiration, Lifestyle, Theology, Linux, Kids, Games, World, India, Literature, China, Ramblings, Fitness, Money, Review, War, Articles, Economy, Journal, Quotes, NBA, Crime, Anime, Islam, 2008, Stories, Prayer, Diary, Jesus, Buddha, Muslim, Israel, Europe, Links, Marriage, Fiction, American Idol, Software, Leadership, Pop culture, Rants, Video Games, Republicans, Updates, Political, Football, Healing, Blogs, Shopping, USA, Class, Matrix, Course, Work, Web 2.0, My Life, Psychology, Gay, Happiness, Advertising, Field Hockey, Hip-hop, sex, fucking, ass, Soccer, sox"

Valuable Words Worth Repeating

Good Sunday Morning.

Like I said before a few days ago, maybe not everyone reads the comments on my blog.  However, yesterday’s comments from Anonz and AH, are valuable words worth repeating just in case you didn’t and even if you did, they are worth reading again. Therefore I am posting them again here. 

Anonz, our personal ‘deep throat’ republican writes in as often as he can, (that is when he is not running for his life) and informs us of inside intelligence that only a well-connected repub would know about our government and their well planned corruption. He has been a major player himself. We are grateful to hear from him and learn even if what he reveals is more disturbing than one could even imagine.

Anonz’s comment:

The new republican argument will be if Congress had practiced true “conservatism,” then we wouldn’t be in this mess. The republicans will attempt to put the blame on the people themselves. You will be hearing it was the people’s fault for buying homes they could not afford.

There will be no mention of the removable of regulations that were in place to prevent those types of loans. No one will mention the suspension of the regulators whose job it is to police the institutions that have regulations to protect the public from unsound speculation with their money.

But if you think the 1.7 trillion bail out will save your investments or this country from serious consequences, think again. Have you asked yourself where the government is getting all this money to bail out these crooks with?

The answer is simple. They walk over to the Treasury and print it, then force it citizens to accept it as something of value. The citizens of the USA are then forced to accept it for their goods and services. This works fine as long as the worthless paper the money is printed on is used only in the USA.

However, other countries want real value for the US paper dollar. They come to the US Treasury with it and demand real concrete value for all those US dollars they have accumulated. This is when the shit hits the fan.

The USA has to pay what it can and ask them to hold the rest of the debt for an interest that they can agree on. That ’s like anyone else trying to get an extension on a debt they can not pay. If they accept, those countries become creditors of the USA. Countries like China, All the major oil exporting countries, Canada, Russia, japan, and a host of other nations are all holding IOUs from the US Treasury.

If they decide not to continue granting credit to the US and demand payment, our entire economy as we know it could collapse. The only reason they haven’t done it to date is because the dollar is the standard currency used to purchase petrodollars.

Ironically if Sadam Hussien had been allowed to switch to Euros, we as a nation may not have experienced this calamity. But he was slated for murder and the invasion of his country was the vehicle picked to loot the National Treasury. When it is over the entire $4 trillion that the plotters estimated they could get away with will have been accomplished without a single plotter going to jail. Hell some of us will go down in history as saviors of this debacle.

Anonz

AH, is our man from the past. And that is about all I will say except when it comes to banking, he is the ‘one-in-the-know’.  You can say he pretty much started it all.

Hello AH: It is really good to hear from you. Thanks for the very enlightening information that you posted.  I especially liked your analogy with the credit card company. You have voiced your explanation in laymen terms making it easy, even for someone like me to grasp. I appreciate that because I am sure that there are many readers who find all of this confusing and complicated.   

Now the question is, we have this information, what do we the people do with it? A class action lawsuit against our government? And what about the lenders…if it is THEIR fault, because THEY were irresponsible and didn’t do THEIR do diligence, is there a case for class action lawsuits against the lenders?

As far as the Wall Streeters, as I mentioned yesterday, I say we let them fall; the same treatment that the average person is getting.  No Bailout. 

AH’s comment:

I do know a little something about banking and investment financing. So I would like to weigh in on this matter about the federal government rushing in to save the American people’s way of living as they have come to know it.

What your government and the pundits are telling you about how dire this situation is is all lies.

It is a ploy by the rich to cover their bad financial judgments at the taxpayers expense. The only way they can pull it off is to scare the average American into thinking that if the government doesn’t bail out the multimillionaires and billionaires that the whole system will collapse. THAT IS NOT TRUE!

The true financial situation of the country is this. The super wealthy financiers have extended themselves too far by betting more money on a pot than they have to cover the bet. A modern analogy may be:

If you kept charging against a credit card because you could continue to make the minimum payments, you could continue to charge until you; 1. reached your credit limit or 2. arranged to get the credit card company to increase your credit limit.

But, it the company raised the minimum or checked your financial behavior and subsequently lowered or stopped your credit limit, then you would have to start paying or go bankrupt.

That is what happened to the those rich company owners. They over reached their financial capability to meet the minimum payments on their debt. If this happened to you, the government would not step in and rescue you. So why are they doing it for these super rich people and how are they justifying it to you to get you to go along with the scam?

The why they are bailing out the super rich is simple. The super rich are them or their bosses. How are they justifying bailing them out now that’s the easy part for them. They scare the masses.

How? By telling them:
A the financial system will collapse if these companies are not bailed out; and
B. convince the average person he was also complicit in the cause of this debacle because he tried to purchase a mortgage that he knew that he couldn’t afford.

A. The first lie:
Lets examine what the average person has to risk losing:
1. His bank account.
2. His mutual fund or money market account;
3. His 401K or other retirement investment;
4. His ability to borrow money;
5.His employment because his employer can’t borrow money. That’s it folks. That’s all the risk the average person has in this pot.

At first glance it seems like it is what the scare propaganda is saying is correct the system will collapse if the government dosen’t bail out the super rich. But wait! There is another simplier solution to solving the average person’s loss in those five areas which were caused by the greed and unsound financial risks of the super rich. Later I will explain how they got away with doing it in the first place.

A. The truth:
1. The average person with a $100,000 on deposit has no risk of losing a penny. His money is insured by FDIC. If he has more, then he should have been more careful.
2. Mutual funds or money market accounts. – The federal government can step in and guarantee the protection of a reasonable amount of the average person’s investment in those areas up to $100,000. If he has more, he should have been more careful. He can always sue the Funds for mismanagement.
3. 401K’s and other individual retirement options. – They can be protected up to a certain amount without giving anything to the super rich who risked these people’s money recklessly.
4. Availability of money for borrowing. – The scare tactic that banks won’t lend money is just that. Banks will lend money, that’s their business. If they don’t, remember how these same crooks remind you that this is a capitalist system not a socialist one, then rest assured that a capitalist venture will arise whereby some new business will start lending money to fill the void. There is no need to rescue the fat cat who risked too much because of greed and now his band has to fold, that socialism. The same socialism that he cries when some politician proposes to give you universal health care. He is trying to convince you that socialism by government to help him is okay but not to help you.
5.Employment – Employment is always in danger. If the owner dosen’t manage his business properly, the employees will lose their jobs. Jobs will not be lost because the company can not get a loan. See 4. above.

B. The second lie:
The “experts” are dispatched to convince the average person that people who tried to buy a home that they couldn’t afford was a contributing cause to this debacle. Common sense should tell you that that is not true.

B. The truth:
It is the lending institution that determines whether the person they lend money is capable of repaying that loan. No one can just take out a loan or mortgage. He must qualify according to the rules set up and administered by the lender. If the lender is irresponsible when it comes to making loans, it is not the borrower’s fault. It does not matter how easy the government makes it for the lender to lend you money, if the lender lends money to a person or business that his do diligence should tell him that the borrower can not pay back, it is the LENDER’s fault.

This absolves the average person from any responsibility for this debacle. It is the sole responsibility of the rich trying to get richer. If they had succeeded they would be arguing that the government shouldn’t be penalizing them for taking risks and being successful.
So having taken those risk and FAILED, why should the government suddenly turn socialist and pay off their losses.

I promised to tell you how they got away with all their risky investments using the public’s money.

First let me say that one of the chief purposes of government is to protect the people from foreign threat and domestic threat.

Under protection from domestic threat comes the requirement of government to protect the public for company, institution, and corporate abuses. This is done by the government setting common sense regulations in the form of laws that protect the public from actions that would recklessly endanger the public’s money when it is being managed by private businesses for profit.

I see you have talked about some of the characters that participated in the dismantling the common sense regulations that were originally set up to protect the public. Unfortunately America is bet by a bunch of savvy crooks who are adept at convincing the average greedy person that he too can become rich if government DEREGULATES businesses and allow them to deal with the public competition will protect the public. This disingenuous piece of logic is proposed on the bases that the people are sophisticated or knowledgeable enough about finances to protect themselves and their investments from the crooks.

The second thing these republicans have done is to go behind the public’s back and restrict the enforcement of even the minimal laws set forth by the government to regulate these industries. Like I have heard before. If there is no police the crooks will run amok. Some businesses were caught short because they believed that the government was policing the regulations that were in place.

The crooks knew that the government was not policing any regulations because they are the super rich who got the government to prevent the police from enforcing the regulations. Now the government is being used to reward those crooks with taxpayers money.

AH

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Readers:  As usual, your comments, thoughts, ideas, are always welcomed. Blog me.

Oh and to all the ‘Anon’s’ out there posting comments: Can you at least comment under an initial or something a bit easier so that I can respond to you if necessary- thanks. 

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michelle ♥

Aka BABE: Your Bad Ass Bitch Editor

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